L’imad Holding offers to buy AD Ports for $9B

Abu Dhabi’s newest sovereign wealth vehicle, L’imad Holding, has made a roughly $9B offer to acquire the publicly traded shares of AD Ports Group, a move that would effectively reverse one of the emirate’s most prominent privatizations and pull a critical infrastructure company back under full state control. The offer targets the roughly 25% of AD Ports that trades publicly on the Abu Dhabi Securities Exchange. L’imad already controls 75.42% of the company through its absorption of the Abu Dhabi Developmental Holding Company (ADQ), which completed on January 30, 2026. A $300B sovereign platform takes shape L’imad Holding, chaired by Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, consolidated the entirety of ADQ’s portfolio when it absorbed the entity earlier this year. ADQ itself was valued at approximately $263B before the merger. Post-consolidation, L’imad manages a combined asset base worth roughly $300B, spanning energy, aviation, healthcare, and logistics. The emirate has also brought in Boston Consulting Group to advise on operational enhancements for the new structure. Privatization in reverse AD Ports went public on the ADX in February 2022, part of a broader G...